The administration has actively expressed its desire to restore the United States to first in the world in college attainment by 2020. “Race to the Top” is one such pathway program that encourages states to develop more rigorous high school curricula, so that more students succeed and move on to college.

Obama promoted the soon-to-be-released “College Scorecard,” an idea that has been floated by politicians in the past, which will help students and parents determine which colleges will deliver the most bang for their educational buck. The “College Scorecard” will be an online, interactive tool and is the next step in the administration’s “Race to the Top” initiative.

Through “College Scorecard,” students will be able to enter their individual needs—including the degree or major they are seeking, and the location and size of their desired school—to determine which school is the right fit for them. Each scorecard includes a college’s cost, graduation rate, loan default rate, average amount borrowed, and employment numbers. The Education Department plans to update these scorecards periodically to ensure the data are current.

“We know students and families are often overwhelmed in the college search process—but feel they lack the tools to sort through the information and decide which school is right for them,” said Education Secretary Arne Duncan in a statement. “The College Scorecard provides a snapshot about an institution’s cost and value to help families make smart decisions about where to enroll.”

Obama made higher education a priority in his first term, enacting a “Pay As You Earn” plan that allows students to cap their monthly student loan payments to 10 percent of their monthly income. His administration raised the maximum Pell Grant amount to $5,635 for the 2013-14 award year, and Pell recipients have expanded by 50 percent since he first took office in 2008.

“Skyrocketing costs price way too many young people out of a higher education, or saddle them with unsustainable debt,” he said.

Obama hopes to reverse the evident downturn of students pursuing science, technology, engineering, and mathematics (STEM) jobs by offering high schools incentives for focusing on STEM courses.

“We’ll reward schools that develop new partnerships with colleges and employers, and create classes that focus on science, technology, engineering, and math—the skills today’s employers are looking for to fill jobs right now and in the future,” he said.

Obama echoed his long-held belief that proper training and expanded educational access is the best pathway to improve the workforce, and to strengthen the economy as a whole.

“To grow our middle class, our citizens must have access to the education and training that today’s jobs require,” he said. “But we also have to make sure that America remains a place where everyone who’s willing to work hard has the chance to get ahead.”

Follow Assistant Editor Sarah Langmead on Twitter at @eCN_Sarah.